Solar energy is booming, raw materials are needed

Not only here in Germany thanks to the nuclear phase-out and in the EU, but also in China, for example, the solar energy industry is growing, according to the renowned Silver Institute. Currently, about 20 grams of silver are used in a solar panel (about two square meters). If China generated around 200 gigawatts through solar energy in 2019, this figure is expected to double by 2025. The EU aims to increase solar capacity from 145 gigawatts to an estimated 240 gigawatts by 2024. The U.S. and India also expect solar capacity to increase.

Another sector that gobbles up silver is the automotive industry. Estimates of consumption are constantly being adjusted upward, for example by the Silver Institute or Metal Focus. Among other things, increasingly advanced technology installed in vehicles is to blame. The Silver Institute, for example, expects almost 90 million ounces of silver per year to be used by the automotive industry in the next few years. And if autonomous driving were to make progress, additional silver demand would also come from this area. Charging stations for electric cars will also need silver.

For example, silver consumption is forecast to increase by eleven percent in 2021. Industry outside the automotive sector is also expected to consume more silver, as the precious metal with its properties can be found in more and more applications. Therefore, a look at silver companies such as MAG Silver or Kuya Silver could be worthwhile.

MAG Silver - https://www.youtube.com/watch?v=kycnXhwfM68 - has a 44 percent interest in the Juanicipio silver property in Mexico, including a 44 percent interest in 2020 production of 623,000 ounces of silver and 1,053 ounces of gold. Incidentally, MAG Silver is exploring high-grade silver projects in North and South America. 

Kuya Silver - https://www.youtube.com/watch?v=TBPASL8RDhE - has just begun a Phase 1 drill program at its Bethania project in Peru. Silver, zinc and lead are contained in the previously producing mine.

Current corporate information and press releases from MAG Silver (https://www.resource-capital.ch/en/companies/mag-silver-corp/) and Kuya Silver (https://www.resource-capital.ch/en/companies/kuya-silver-corp/).
 
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